undamentalytics Newsletter
Sign in

Orion Energy Systems, Inc. (OESX) stock

Add to watchlist

Add holding +

NASDAQ: OESX Nasdaq Electrical Components & Equipment Next results ~November 5, 2026

B Fundamentals grade

Orion Energy Systems, Inc. is a US-listed company in the electrical components & equipment industry. Its financial year ends in March.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$53

Revenue-to-maturity cash-flow model

Base case. Range ~$43–$65 across our lower- and higher-growth cases (11.5%–21.5% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Orion Energy Systems, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 0 selling5 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds20 adding, 11 cuttingOf 5 active managers that changed their stake, 4 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Orion Energy Systems files

Where Orion Energy Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $92m, up 16.5% on a year earlier, faster than the 8.3% growth a quarter earlier. Free-cash-flow margin fell to 0.8% from 3.7% a year earlier. Operating margin widened to 1.6% from -10.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 3 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $52.74 a share, against a share price of $20.25.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Orion Energy Systems, Inc.'s trailing-twelve-month revenue grew 16.5% year on year, with a free-cash-flow margin of 0.8%. Where it stands out: stock pay as % of revenue of 0.5% ranks 7 of 50 electrical components & equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 16.5% (+8.2pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 16.5% over the last 12 months, against a median of 10.6% for electrical components & equipment companies we cover.
  • Growth speeding up. The growth rate is 8.2 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 11.9 points on a year ago.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 15.4% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 2.0% in a year.
  • High earnings multiple. The shares trade at 1878 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 102% and a beta of 0.6 against the S&P 500.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2027 Q1

Filed August 5, 2026
Earnings per share
$0.48 against an average estimate of $0.24: beat by 100.3%
Revenue
$26m, up 31.5% on a year earlier
Share reaction
+10.6% in the first session after the results on September 15, 2026, against -0.9% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.15

Orion Energy Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.0%
  • 1 week+1.9%
  • 1 month-34.5%
  • This year+29.6%
  • 1 year+105.5%
  • 5 years-54.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$92.5M
Operating margin
1.6%
Net margin
0.0%
EPS (TTM, diluted)
$0.01

Growth

Revenue growth
+16.5%
Change in growth rate
+8.2 pts

Cash

Free cash flow (TTM)
$754,000
FCF margin
0.8%
Stock pay % of revenue
0.5%

Earnings

Last results
September 15, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Orion Energy Systems, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Orion Energy Systems, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.24 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$53 ~$43–$65 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$0.1 ~$0.2–$0.4 Left out: out of range vs price (0.01x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$2.0 ~$13–$110 Left out: out of range vs price (0.10x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$53 ~$43–$65 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Orion Energy Systems, Inc. with Electrical Components & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$13.90$19.80$8.50$8.90$37.00$69.60$28.00$20.30$8.70$7.20$8.74$19.93
Market value$38m$56m$24m$26m$115m$218m$88m$64m$28m$24m$31m$75m
+ Net debt (− = net cash)−$11m−$10m−$5m$650000−$19m−$19m−$14m−$6m$5m$4m$3m$1m
Enterprise value$28m$45m$19m$27m$96m$199m$73m$58m$33m$28m$34m$76m
Multiples
Price / sales 0.6x0.8x0.4x0.4x0.8x1.9x0.7x0.8x0.3x0.3x0.4x0.8x
Price / earnings ————9.2x8.3x14.4x————n/m
Price / free cash flow ————5.9xn/m———47.3x—99.6x
EV / EBITDA ————6.5x23.9x7.3x———n/m24.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Orion Energy Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -2.1% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 24.5%, moving by 4.2 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -3.9%; its worst year was -24.3%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -0.8% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 23.3% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $24m and EPS of $0.15 (range $0.15 to $0.15) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.31 +616% $102m +18%
Next $1.95 +49% $112m +10%

Next year's EPS estimate has moved +15.4% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +48.9% on 90 days ago. In the last 30 days, 1 analyst raised Orion Energy Systems, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Orion Energy Systems, Inc., last 90 days
$0.50 $1.00 $1.50 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.88 Current fiscal year, 60 days ago: $0.88 Current fiscal year, 30 days ago: $0.95 Current fiscal year, 7 days ago: $0.95 Current fiscal year, Now: $1.31 $1.31 Next fiscal year, 90 days ago: $1.69 Next fiscal year, 60 days ago: $1.69 Next fiscal year, 30 days ago: $1.64 Next fiscal year, 7 days ago: $1.64 Next fiscal year, Now: $1.95 $1.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.88$1.69
60 days ago $0.88$1.69
30 days ago $0.95$1.64
7 days ago $0.95$1.64
Now $1.31$1.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.24 $0.48 +100.3%
Mar 2026 $0.26 $0.04 −83.1%
Dec 2025 −$0.02 $0.04 +300.0%
Sept 2025 −$0.10 −$0.16 −58.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 202622

Counts of recommendations published by analysts covering Orion Energy Systems, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.4%
of tradable shares
Days to cover
2.18
at average volume
Short interest, 1 month
−32%
to October 15, 2026
Held by institutions
54%
of shares
Held by insiders
14.1%
of shares
Employees
174
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +105.5%

$9.70 on October 31, 2025 to $19.93

ThenNowEffect
Revenue (last 12 months) $79m $92m +16.5%
P/S multiple 0.4x 0.8x +101.9%
Share count 3m 4m −12.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +86.3%

$10.70 on November 3, 2023 to $19.93

ThenNowEffect
Revenue (last 12 months) $77m $92m +20.0%
P/S multiple 0.4x 0.8x +83.3%
Share count 3m 4m −15.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OESX−63%−50%−52%−8%+92%+30%
Industry peers (median)−4%−30%−16%−7%+11%−36%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OESX17%25%17%33%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OESX−72%−67%−61%−50%−40%−53%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 95% from February 9, 2021 to June 17, 2025. Getting back needed a 1984% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$8.35 – $30.73
From 52-week high
−35.1%
vs 50-day average
−21.5%
vs 200-day average
+33.0%
Volatility (1 year)
102%
Beta vs S&P 500
0.57

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±11.0%
After a week
9 up, 3 down
typical move ±18.6%
After a month
6 up, 6 down
typical move ±28.9%
Results releasedNext dayS&P 500 next day5 days21 days
September 15, 2026 +10.6% −0.9% +14.8% −3.0%
August 5, 2026 +69.0% −0.4% +98.0% +122.9%
June 4, 2026 +4.4% −2.2% +3.7% +15.4%
May 19, 2026 −2.4% +0.4% +17.5% +8.0%
April 16, 2026 −4.6% +1.5% −7.5% −7.3%
February 5, 2026 +0.8% +0.6% −7.1% −26.6%
January 20, 2026 +5.2% −0.9% +2.6% −28.8%
November 5, 2025 +9.6% −0.7% +43.0% +82.0%
August 6, 2025 +14.0% +0.7% +12.3% +27.4%
June 26, 2025 +6.8% +1.3% +3.4% +1.7%
February 11, 2025 −3.6% −0.2% +1.2% −9.6%
November 6, 2024 −1.0% +3.3% −12.1% −14.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Orion Energy Systems, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Orion Energy Systems, Inc.
$75M $80M $85M $90M $95M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $80.1M Revenue (TTM), FY24 Q3: $85.8M Revenue (TTM), FY24 Q4: $90.6M Revenue (TTM), FY25 Q1: $92.9M Revenue (TTM), FY25 Q2: $91.6M Revenue (TTM), FY25 Q3: $85.3M Revenue (TTM), FY25 Q4: $79.7M Revenue (TTM), FY26 Q1: $79.4M Revenue (TTM), FY26 Q2: $79.9M Revenue (TTM), FY26 Q3: $81.5M Revenue (TTM), FY26 Q4: $86.3M Revenue (TTM), FY27 Q1: $92.5M $92.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $80.1M
FY24 Q3 $85.8M
FY24 Q4 $90.6M
FY25 Q1 $92.9M
FY25 Q2 $91.6M
FY25 Q3 $85.3M
FY25 Q4 $79.7M
FY26 Q1 $79.4M
FY26 Q2 $79.9M
FY26 Q3 $81.5M
FY26 Q4 $86.3M
FY27 Q1 $92.5M
Revenue growth, TTM YoY Orion Energy Systems, Inc.
-20% -10% 0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -9.2% Revenue growth, TTM YoY, FY24 Q3: 10.3% Revenue growth, TTM YoY, FY24 Q4: 17.1% Revenue growth, TTM YoY, FY25 Q1: 20.5% Revenue growth, TTM YoY, FY25 Q2: 14.4% Revenue growth, TTM YoY, FY25 Q3: -0.6% Revenue growth, TTM YoY, FY25 Q4: -12.0% Revenue growth, TTM YoY, FY26 Q1: -14.5% Revenue growth, TTM YoY, FY26 Q2: -12.8% Revenue growth, TTM YoY, FY26 Q3: -4.5% Revenue growth, TTM YoY, FY26 Q4: 8.3% Revenue growth, TTM YoY, FY27 Q1: 16.5% 16.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -9.2%
FY24 Q3 10.3%
FY24 Q4 17.1%
FY25 Q1 20.5%
FY25 Q2 14.4%
FY25 Q3 -0.6%
FY25 Q4 -12.0%
FY26 Q1 -14.5%
FY26 Q2 -12.8%
FY26 Q3 -4.5%
FY26 Q4 8.3%
FY27 Q1 16.5%
Operating margin (TTM) Orion Energy Systems, Inc.
-30% -20% -10% 0% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -25.0% Operating margin (TTM), FY24 Q3: -20.4% Operating margin (TTM), FY24 Q4: -11.9% Operating margin (TTM), FY25 Q1: -8.5% Operating margin (TTM), FY25 Q2: -7.6% Operating margin (TTM), FY25 Q3: -7.2% Operating margin (TTM), FY25 Q4: -13.3% Operating margin (TTM), FY26 Q1: -10.3% Operating margin (TTM), FY26 Q2: -6.4% Operating margin (TTM), FY26 Q3: -4.3% Operating margin (TTM), FY26 Q4: -1.9% Operating margin (TTM), FY27 Q1: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -25.0%
FY24 Q3 -20.4%
FY24 Q4 -11.9%
FY25 Q1 -8.5%
FY25 Q2 -7.6%
FY25 Q3 -7.2%
FY25 Q4 -13.3%
FY26 Q1 -10.3%
FY26 Q2 -6.4%
FY26 Q3 -4.3%
FY26 Q4 -1.9%
FY27 Q1 1.6%
FCF margin (TTM) Orion Energy Systems, Inc.
-15% -10% -5% 0% 5% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -9.9% FCF margin (TTM), FY24 Q3: -9.5% FCF margin (TTM), FY24 Q4: -12.1% FCF margin (TTM), FY25 Q1: -6.5% FCF margin (TTM), FY25 Q2: -1.5% FCF margin (TTM), FY25 Q3: 1.7% FCF margin (TTM), FY25 Q4: 0.6% FCF margin (TTM), FY26 Q1: 3.7% FCF margin (TTM), FY26 Q2: 5.0% FCF margin (TTM), FY26 Q3: -0.5% FCF margin (TTM), FY26 Q4: -1.3% FCF margin (TTM), FY27 Q1: 0.8% 0.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -9.9%
FY24 Q3 -9.5%
FY24 Q4 -12.1%
FY25 Q1 -6.5%
FY25 Q2 -1.5%
FY25 Q3 1.7%
FY25 Q4 0.6%
FY26 Q1 3.7%
FY26 Q2 5.0%
FY26 Q3 -0.5%
FY26 Q4 -1.3%
FY27 Q1 0.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Mar 2010 2011 Mar 2011 2012 Mar 2012 2013 Mar 2013 2014 Mar 2014 2015 Mar 2015 2016 Mar 2016 2017 Mar 2017 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 68 82 101 86 89 72 68 70 60 66 151 117 124 77 91 80 86 92
Gross profit 23 28 30 27 23 −1 16 17 15 15 37 30 34 18 21 20 28 31
EBITDA −2 3 5 −2 −4 −28 −16 −10 −11 −4 15 8 10 −14 −8 −8 0 3
Operating income −5 −0 1 −7 −8 −32 −20 −13 −13 −6 13 7 8 −16 −11 −11 −2 1
Net income −3 0 0 −10 −6 −32 −20 −12 −13 −7 12 26 6 −34 −12 −12 −3 0
Diluted EPS −$1.60 $0.01 $0.20 −$5.00 −$3.00 −$14.30 −$7.30 −$4.40 −$4.60 −$2.30 $4.00 $8.30 $1.90 −$10.80 −$3.59 −$3.59 −$0.89 $0.01
Growth (year on year)
Revenue — +20.5% +22.6% −14.4% +2.9% −18.5% −6.3% +3.8% −14.1% +9.0% +129.4% −22.5% +6.5% −37.8% +17.1% −12.0% +8.3% +16.5%
EBITDA — — +47.9% −142.6% — — — — — — — −43.3% +20.3% −238.8% — — — —
Operating income — — — — — — — — — — — −47.9% +22.7% −290.5% — — — —
Net income — — — — — — — — — — — +109.7% −76.7% −663.8% — — — —
Diluted EPS — — — — — — — — — — — +107.5% −77.1% −668.4% — — — —
Margins
Gross margin 33.4% 33.7% 29.9% 31.1% 25.9% −1.6% 23.6% 24.7% 24.3% 22.1% 24.6% 25.8% 27.3% 22.6% 23.1% 25.4% 32.6% 33.6%
EBITDA margin −2.8% 3.9% 4.7% −2.4% −4.3% −38.4% −23.3% −14.5% −18.2% −6.7% 9.7% 7.1% 8.0% −17.9% −9.1% −10.0% 0.2% 3.4%
Operating margin −6.7% −0.1% 0.5% −7.7% −9.4% −44.2% −29.5% −17.8% −21.5% −9.4% 8.7% 5.9% 6.7% −20.7% −11.9% −13.3% −1.9% 1.6%
Net margin −5.1% 0.4% 0.5% −12.1% −7.0% −44.4% −29.8% −17.5% −21.8% −10.2% 8.3% 22.4% 4.9% −44.4% −12.9% −14.8% −3.7% 0.0%
Free-cash-flow margin −24.0% −13.7% 7.1% 0.1% 10.7% −20.5% −5.7% −3.7% −8.2% −8.3% 12.9% 0.7% −0.5% −3.7% −12.1% 0.6% −1.3% 0.8%
Cash flow
Cash from operations −11 −9 11 2 10 −13 −3 −2 −4 −5 20 2 −0 −2 −10 1 −1 1
Capital spending 6 3 4 2 0 2 0 1 1 0 1 1 1 1 1 0 0 0
Free cash flow −16 −11 7 0 9 −15 −4 −3 −5 −5 20 1 −1 −3 −11 1 −1 1
Stock-based pay 1 1 1 1 2 1 1 2 1 1 1 1 1 2 1 1 0 0
Free cash flow after stock pay −18 −13 6 −1 8 −16 −5 −4 −6 −6 19 0 −1 −4 −12 −1 −2 0
Balance sheet
Cash 23 12 23 14 18 20 16 17 9 9 29 19 14 16 5 6 3 5
Total debt 0 5 9 7 7 5 5 7 4 9 10 0 0 10 10 10 6 7
Net debt (negative = net cash) −23 −6 −14 −8 −11 −15 −11 −10 −5 1 −19 −19 −14 −6 5 4 3 1
Diluted shares 2m 2m 2m 2m 2m 2m 3m 3m 3m 3m 3m 3m 3m 3m 3m 3m 4m 4m
Returned to shareholders
Buybacks 0 — 1 6 0 0 — — — — — — — — — — — —
Total returned 0 — 1 6 0 0 — — — — — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $53m
Short-term assets $39mLonger-term assets $14m
What it owes, and who funded it · $53m
Short-term liabilities $26mLonger-term liabilities $9mShareholders' equity $19m
  • Short-term assets cover short-term liabilities $39m of assets due within a year against $26m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $39m short-term assets against $9m of longer-dated liabilities.
  • More cash than debt $5m of cash against $7m of debt.
  • Debt below 40% of shareholders' equity Debt is 35% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 35% over five years.
  • A year's operating cash flow covers at least 20% of debt $788,000 of operating cash flow against $7m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Orion Energy Systems, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
1.1%
of revenue
Days sales outstanding
57 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electrical components & equipment
Last 12 months unless stated OESX SKYX BLNK BLDP FTCI AMPX Median
Revenue, last 12 months $92m $96m $97m $99m $102m $109m $154m
Revenue growth, last 12 months 16.5% 8.1% −7.9% 42.5% 59.5% 143.6% 10.6%
Revenue growth, 3-year average 6.3% 85.7% 0.8% — −4.1% 203.2% 9.2%
Revenue growth, latest quarter 31.5% 9.6% −24.4% — 30.8% 125.9% 10.2%
Gross margin 33.6% 30.2% 29.7% 5.5% 3.0% 22.3% 29.3%
Operating margin 1.6% −30.3% −53.0% −104.1% −38.3% −37.7% −17.7%
Operating margin, 3-year average −5.7% −35.4% −122.0% −64.1% −61.5% −155.0% −32.6%
Net margin 0.0% −34.3% −52.2% −91.5% −53.6% −33.4% −23.4%
Cash from operations / revenue 0.9% −17.3% −5.9% −56.5% −26.5% −48.4% −6.5%
Free-cash-flow margin 0.8% −17.3% −13.3% −66.4% −27.9% −53.5% −11.0%
Free-cash-flow margin, 3-year average −0.7% −17.7% −36.4% −55.5% −42.0% −180.5% −6.8%
Stock pay / revenue 0.5% 13.0% 3.1% 6.4% 9.0% 7.6% 2.5%
Change in share count 2.0% 17.6% 25.6% 0.3% 25.5% 17.2% 10.0%

Median of all 57 companies we cover in electrical components & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 electrical components & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 16.5% 10.6% 23 of 57
Change in growth rate Growth +8.2pp +0.0pp 15 of 57
Gross margin Profitability 33.6% 29.3% 13 of 54
Operating margin Profitability 1.6% -20.0% 19 of 53
Net margin Profitability 0.0% -23.4% 24 of 57
Free-cash-flow margin Cash generation 0.8% -8.8% 21 of 56
Stock pay as % of revenue Cash generation 0.5% 2.8% 7 of 50
Long-term debt as % of assets Balance sheet 11.7% 17.8% 15 of 40
Days sales outstanding Balance sheet 57 days 72 days 17 of 50

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Segments
Line of business Revenue Share YoY
Lighting $55.9M 63.6% ▲ 17.1%
Maintenance Services $16M 18.3% ▲ 5.6%
Electric Vehicle Charging Systems $14.4M 16.4% ▼ 14.5%
Outside The United States In Germany $1.5M 1.7% ▼ 16.7%
Corporate and Other $0 0.0% —
Products and services
Line of business Revenue Share YoY
Products $57M 66.1% ▲ 4.9%
Services $29.3M 33.9% ▲ 15.5%

From Orion Energy Systems, Inc.'s 10-K filed June 4, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$21.2M
Institutions reporting
34
Shares held vs prior quarter
▼ 9.2%
Positions opened / closed
5 / 8

Top buyers and sellers, Q2 2026: 20 institutions bought and 11 sold ; the biggest buyer was Jane Street Group, LLC (+27K shares) and the biggest seller Myda Advisors LLC (−134K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
North Star Investment Management Corp. $6.2M 527K 29.1% ▲ 0.3%
Tieton Capital Management, LLC $3.3M 285K 15.7% ▲ 6.8%
Grace & White Inc $3.1M 264K 14.5% ▲ 9.2%
Renaissance Technologies LLC $2.1M 182K 10.0% ▲ 1.8%
Vanguard Capital Management LLC $1.5M 127K 7.0% ▲ 13.9%
Us Bancorp $820,112 70K 3.9% 0.0%
Marshall Wace, LLP $717,088 61K 3.4% ▲ 7.8%
Sei Investments Co $647,690 55K 3.1% ▼ 57.4%
Jane Street Group, LLC $627,578 54K 3.0% ▲ 97.7%
Geode Capital Management, LLC $445,788 38K 2.1% ▼ 4.9%
Blackrock, Inc. $431,244 37K 2.0% ▲ 52.4%
Bridgeway Capital Management, LLC $364,027 31K 1.7% ▲ 30.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Orion Energy Systems, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $351,370 5 trades by 3 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $351,370 net buying
Insider Date Trade Shares Price Value
Wishart-Smith Heather L Director August 20, 2026 Buy 1,054 $18.96 $19,984
Washlow Sally A. Chief Executive Officer June 24, 2026 Buy 1,780 $9.47 $16,857
Washlow Sally A. Chief Executive Officer June 23, 2026 Buy 955 $9.50 $9,072
Brodin J Per EVP, CFO, CAO & Treasurer February 27, 2026 Buy 500 $11.07 $5,535
Washlow Sally A. Chief Executive Officer November 19, 2025 Buy 21,166 $14.17 $299,922

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • September 15, 2026
  • August 5, 2026
  • June 4, 2026
  • May 19, 2026
  • April 16, 2026
  • February 5, 2026

Recent SEC filings

Data status

When each part of this page on Orion Energy Systems, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Orion Energy Systems, Inc. in brief

What does Orion Energy Systems, Inc. do?
Orion Energy Systems, Inc. is a US-listed company in the electrical components & equipment industry. Its financial year ends in March.
What is Orion Energy Systems, Inc.'s stock ticker?
Orion Energy Systems, Inc. trades under the ticker OESX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Orion Energy Systems, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Orion Energy Systems, Inc. reported revenue of $92.5M, 16.5% higher than a year earlier, according to its SEC filings.
What is Orion Energy Systems, Inc.'s free cash flow?
Orion Energy Systems, Inc.'s free-cash-flow margin is 0.8% of revenue over the trailing twelve months, ranking 21 of the 56 electrical components & equipment companies we cover.
Who are Orion Energy Systems, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are North Star Investment Management Corp., Tieton Capital Management, LLC and Grace & White Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Orion Energy Systems, Inc.'s market cap?
On November 2, 2026, Orion Energy Systems, Inc.'s market capitalisation was about $75.1M, with a price-to-earnings ratio of 1877.6 and net debt of $1.4M. Market figures come from third-party market data and may be delayed.
How much debt does Orion Energy Systems, Inc. have?
Orion Energy Systems, Inc.'s debt-to-equity ratio is 34.8%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Orion Energy Systems, Inc.'s competitors?
In our Electrical Components & Equipment peer group, the companies closest to Orion Energy Systems, Inc. are Skyx Platforms Corp., Blink Charging Co., Ballard Power Systems Inc., FTC Solar, Inc. and Amprius Technologies, Inc. The side-by-side comparison below sets their revenue, margins and growth against Orion Energy Systems, Inc.'s.
Are insiders buying or selling Orion Energy Systems, Inc. stock?
Over the last 12 months, Orion Energy Systems, Inc.'s directors and officers reported 5 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Orion Energy Systems, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Orion Energy Systems, Inc. announces its own schedule.